Assume that on November 1, 2019, a 3-month rent payment for $8,000 per month (for a...

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Assume that on November 1, 2019, a 3-month rent payment for $8,000 per month (for a total of $24,000) was made with respect to a lease that the company entered into on that date as a tenant. The company took occupancy of the rented space immediately. The lease term will expire on January 31, 2020. The $72,000 payment was recorded as a debit to Prepaid Rent on November 1, 2019. The adjusting entry on December 31, 2019, is as follows: Multiple Choice Dr. Cr. Dr. Cr. Dr. Prepaid Rent Rent Expense Rent Expense Prepaid Rent Rent Expense 16,000 8,000 16,000 16,000 8,000 O Prepaid Rent Cr. Rent Expense Dr. 8,000 8,000 Assume that on November 1, 2019, a 3-month rent payment for $8,000 per month (for a total of $24,000) was made with respect to a lease that the company entered into on that date as a tenant. The company took occupancy of the rented space immediately. The lease term will expire on January 31, 2020. The $72,000 payment was recorded as a debit to Prepaid Rent on November 1, 2019. The adjusting entry on December 31, 2019, is as follows: Multiple Choice Dr. Cr. Dr. Cr. Dr. Prepaid Rent Rent Expense Rent Expense Prepaid Rent Rent Expense 16,000 8,000 16,000 16,000 8,000 O Prepaid Rent Cr. Rent Expense Dr. 8,000 8,000